Earnings Data
Report Date
Jul 28, 2026After Close (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
0.23Last Year’s EPS
0.2Same Quarter Last Year
Strong Buy
Based on 4 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call highlighted strong operational recovery and commercial momentum in 2025 with double-digit revenue growth in several lines, a robust adjusted EBITDA margin, approval of a disciplined MXN 16 billion MDP and clear upside from Monterrey commercial expansion and tariff resets. Headwinds include higher operating costs, a larger noncash major maintenance provision tied to the MDP, FX impacts from peso appreciation, and a moderated traffic outlook for 2026 (low- to mid-single-digit growth). Overall, positives (traffic recovery, route expansion, strong margins, MDP approval and commercial tailwinds) materially outweigh the noted cost and provisioning headwinds.Company Guidance
Master Development Program Approved (2026-2030)
Federal Civil Aviation Agency approved a MXN 16 billion MDP (Dec-2024 pesos) for 2026-2030 focused on capacity expansion, terminal and airside works, equipment upgrades, pavement, sustainability and safety. MDP provides long-term regulatory visibility, comparable in real terms to 2021-2025, and improves capital efficiency per passenger.
Strong 2025 Passenger Recovery and Route Expansion
Total passengers reached 28.8 million in 2025, up 8.5% YoY (domestic +8%, international +12%). Seat capacity for 2025 increased ~11%. Opened 35 new routes in 2025 (24 domestic, 11 international).
Robust Commercial and Diversification Performance
Commercial lines showed strong growth: restaurants +22%, VIP lounges +30%, parking +13% vs 2024. Diversification highlights include industrial park revenues +44% and OMA Carga +9% for the year.
Solid Full-Year and Quarterly Profitability
Full-year adjusted EBITDA was MXN 10.2 billion with a 74.5% adjusted EBITDA margin. Q4 adjusted EBITDA was MXN 2.6 billion, up ~6% YoY, with a Q4 margin of 73.6%.
Balanced Revenue Growth Across Aeronautical and Non-Aeronautical
Aeronautical and non-aeronautical revenues each grew approximately 12% year-over-year for the full year. In Q4, total aeronautical and non-aeronautical revenues grew ~6.1% to MXN 3.5 billion; commercial revenues in Q4 grew ~8%, with commercial revenue per passenger at MXN 62 and commercial occupancy at 93%.
Monterrey Strategic Expansion and Expected Commercial Upside
Major works prioritized for Monterrey (and Culiacan). New Monterrey commercial area expected to open mid-next year; management expects a 10-15% increase in spending per passenger in Monterrey on an annualized basis once new stores are operating (full-year effect realized by 2028).
Prudent Balance Sheet and Liquidity Metrics
Q4 cash from operations MXN 1.9 billion; ending cash MXN 3.1 billion. Total debt MXN 13.6 billion and net debt/adjusted EBITDA leverage ~1.0x. Financing expense decreased 12.7% to MXN 290 million in Q4.
Tariff Reset and Rollout Plan
Approved maximum tariff real increase of 6.9% (2026 vs 2025). Implementation begins April 10; management expects to reach ~93% of maximum tariff by year-end and full 100% penetration in 2-3 years.
Grupo Aeroportuario del Centro Norte SAB de CV (GAERF) Earnings, Revenues Date & History
GAERF Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
GAERF Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Apr 27, 2026 | $12.89 | $12.89 | 0.00% |
Feb 23, 2026 | $17.82 | $17.82 | 0.00% |
Oct 23, 2025 | $13.48 | $13.48 | 0.00% |
Jul 28, 2025 | $12.20 | $12.20 | 0.00% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Grupo Aeroportuario del Centro Norte SAB de CV Class B (GAERF) report earnings?
Grupo Aeroportuario del Centro Norte SAB de CV Class B (GAERF) is schdueled to report earning on Jul 28, 2026, After Close (Confirmed).
What is Grupo Aeroportuario del Centro Norte SAB de CV Class B (GAERF) earnings time?
Grupo Aeroportuario del Centro Norte SAB de CV Class B (GAERF) earnings time is at Jul 28, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is GAERF EPS forecast?
GAERF EPS forecast for the fiscal quarter 2026 (Q2) is 0.23.